Debate heats up over McGrath's plan for an infrastructure fund

UCC economist Seamus Coffey questions need for another spending fund

Much less conventional was Finance Minister Michael McGrath's plan for a second fund. Picture: Damien Storan

When it first emerged several months ago, the idea of the Government running not one, but two wealth funds was a tad puzzling.

By this month, Finance Minister Michael McGrath had filled in some of the details. He would indeed seek to divert some of the many billions of euro flowing into the exchequer into a national savings or sovereign wealth fund, in a move last taken in the early noughties.